Article

Wind farm project placed on indefinite hold

The OISD Board of Trustees and other local and area governing entities approved tax abatements last year after a proposal from BP Alternative Energy stated that construction on a multi-million dollar wind farm project would begin in 2010.

An indefinite hold has been placed on the wind farm project planned in Young and Archer County, according to Superintendent Tom Bailey.

The OISD Board of Trustees and other local and area governing entities approved tax abatements last year after a proposal from BP Alternative Energy stated that construction on a multi-million dollar wind farm project would begin in 2010.

That construction has now been placed on hold, and that could have a large effect on the amount of money Olney ISD will receive in the future.

"We talked to the people at BP Alternative Energy in Houston," Bailey said. "They told us they would not be doing any construction this calendar year."

Bailey explained that the contract with BP Alternative Energy, including tax abatement details that would have brought OISD approximately $10 million over a 10 year period, ends at the end of 2010. The contract will be re-negotiated at that time, the superintendent explained.

"If we have to do a new one, it could affect the amount of money we get," he said, noting that laws passed by the legislature would now make a portion of the funds subject to recapture by the state.

An indefinite hold has been placed on the wind farm project planned in Young and Archer County, according to Superintendent Tom Bailey.

The OISD Board of Trustees and other local and area governing entities approved tax abatements last year after a proposal from BP Alternative Energy stated that construction on a multi-million dollar wind farm project would begin in 2010.

That construction has now been placed on hold, and that could have a large effect on the amount of money Olney ISD will receive in the future.

"We talked to the people at BP Alternative Energy in Houston," Bailey said. "They told us they would not be doing any construction this calendar year."

Bailey explained that the contract with BP Alternative Energy, including tax abatement details that would have brought OISD approximately $10 million over a 10 year period, ends at the end of 2010. The contract will be re-negotiated at that time, the superintendent explained.

"If we have to do a new one, it could affect the amount of money we get," he said, noting that laws passed by the legislature would now make a portion of the funds subject to recapture by the state.


Source: http://www.olneyenterprise....

MAR 5 2010
http://www.windaction.org/posts/24927-wind-farm-project-placed-on-indefinite-hold
back to top